Teradyne (NASDAQ:TER) Price Target Raised to $525.00

Key Points

• Bank of America raised its price target on Teradyne from $365 to $525 and kept a buy rating, implying about 14.9% upside from the previous close.
• Several other analysts have also turned more bullish on the stock, with multiple firms lifting targets; Teradyne now has a Moderate Buy consensus and an average price target of $363.87.
• Teradyne has posted strong recent results, including Q1 EPS of $2.56 versus $2.11 expected and revenue of $1.28 billion, up 87% year over year.

Teradyne (NASDAQ:TER - Get Free Report) had its target price lifted by research analysts at Bank of America from $365.00 to $525.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 14.88% from the company's previous close.

TER has been the subject of several other reports. Citigroup raised their price target on Teradyne from $325.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Susquehanna boosted their price objective on Teradyne from $335.00 to $415.00 and gave the company a "positive" rating in a report on Thursday, April 9th. Stifel Nicolaus increased their target price on Teradyne from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. UBS Group raised their target price on Teradyne from $325.00 to $440.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald lifted their target price on Teradyne from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Teradyne currently has a consensus rating of "Moderate Buy" and an average price target of $363.87.

Teradyne Price Performance

Shares of TER opened at $457.00 on Tuesday. The firm has a 50-day simple moving average of $376.35 and a two-hundred day simple moving average of $302.73. The stock has a market cap of $71.54 billion, a PE ratio of 84.63, a P/E/G ratio of 1.80 and a beta of 1.79. Teradyne has a 1-year low of $85.58 and a 1-year high of $459.19.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.11 by $0.45. Teradyne had a net margin of 22.55% and a return on equity of 31.79%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $0.75 EPS. The business's revenue for the quarter was up 87.0% compared to the same quarter last year. As a group, sell-side analysts expect that Teradyne will post 7.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Ryan Driscoll sold 680 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total transaction of $256,768.00. Following the completion of the sale, the vice president owned 7,665 shares in the company, valued at $2,894,304. The trade was a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the transaction, the chief executive officer owned 120,470 shares in the company, valued at $50,962,424.10. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,941 shares of company stock worth $5,444,112 over the last 90 days. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Teradyne

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC purchased a new stake in Teradyne in the first quarter valued at $293,000. FAS Wealth Partners Inc. purchased a new position in shares of Teradyne during the first quarter worth about $261,000. Evansbrook LLC acquired a new stake in shares of Teradyne during the first quarter worth about $205,000. Parallel Advisors LLC increased its position in shares of Teradyne by 7.3% during the first quarter. Parallel Advisors LLC now owns 1,686 shares of the company's stock worth $500,000 after purchasing an additional 114 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Teradyne by 35.7% in the 1st quarter. NewEdge Advisors LLC now owns 20,725 shares of the company's stock valued at $6,144,000 after purchasing an additional 5,455 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Teradyne Company Profile

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company's product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.

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